Magnite Inc (MGNI) said after close Wednesday that it earned $0.12 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $150.1 million, beating estimates by $19.8 million.
In the same quarter a year ago, the company earned $0.18 per share on revenue of $145.8 million.
The stock is down 2.86% to $7.14 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 70. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Magnite Inc is an independent sell-side advertising platform that combines Rubicon Project's programmatic expertise with Telaria's leadership in CTV. The company provides a technology solution to automate the purchase and sale of digital advertising inventory.
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Magnite Inc Down 2.86% To $7.14 After Earnings Beat
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